logo
Workers adjust to the ‘Boss Era' as tough economy rattles offices

Workers adjust to the ‘Boss Era' as tough economy rattles offices

Yahoo29-04-2025
When it comes to the world of work, it wasn't that long ago that the common buzzwords were 'Quiet Quitting' and 'Job Hopping'.
Those were the good old days when workers were in the driver's seat.
Today's job scene is now being called the 'Boss Era.'
One worker in Brookline's Coolidge Corner told Boston 25 News things are tense at work. 'I went thru a really intense reorganization and layoff this past winter around Christmas, and it was really scary.'
Still, many people feel lucky just to have a job.
Julia Fan just got laid off from a marketing position.
'It's really rough. You don't know what's going on. There isn't a lot of good communication between what you're doing and how you're doing, and whether or not how you're doing is going to translate into the fact you get to keep your job.'
That's a stark contrast to the job market a new year ago as the country came out of a pandemic slump.
'That evolved into let's work at home one day a week, or two days a week, even after COVID. Then of course we were in an over-employment situation, so the bosses really didn't have much of a choice,' explained Greg Stoller, a master lecture at the Questrom School of Business at Boston University.
'Fast forward 4-5 years. We've had a number of cuts. The Dow is whipsawing on a regular basis, and a lot of people are getting laid off both in the private sector and the public sector, and right now, I think the pendulum is shifting back to the bosses being able to call the shots.'
Hence the term -- the 'Boss Era'
Terms like 'Quiet Quitting' are now in the past tense.
'The pressure on workers has really ratcheted back up,' said Professor Nick Juravich, Ph.D., a professor of labor studies at UMass Boston.
He co-edited a new book called The Pandemic and the Working Class.
'I think bosses have really wanted to reassert control, whether that's surveilling people through their computers if they're working remotely, or getting them back in the office, or demanding that they be part of increasingly rigorous, intensive forms of on-the-job surveillance and tracking.'
Unions enjoyed a renaissance after COVID, but Juravich understands why some people might now be staying away.
'When conditions are this rough, it's not unreasonable for people to want to put my head down, and I think it's harder sometimes to get over that threshold to saying we're going to take a step and take a stand.'
'I think we are in a triage situation,' Stoller remarked. 'I think that this is not a drill. This is not a blip.'
Stoller thinks workers need to step up their game if they want to keep their name off the wrong list.
'I think everyone, including me, forgets that we're all replaceable. So, as I result, I think the onus is on the employee to work harder. So, if you're working from 9-5, I'm telling people to be in at 830 and stay until 5:30.'
He added, 'I think the pendulum has shifted that nobody owes you the right to work at home, so my point being, try to get into the office as much as possible.'
Some people told Boston 25 News they feel it's a no-win situation today.
It's hard if you have a job, and it's even tougher if you don't.
Julia Fan added, 'I'm not quite sure completely what the solve is to that. It seems like everybody is just as confused as me and you really have to kind of grit your teeth and work through it. It's just a hard, hard time.'
It's not just the health of the economy giving the job market a jolt.
Analysts are also watching how AI is reshaping the traditional world of work, and what that means for workers.
This is a developing story. Check back for updates as more information becomes available.
Download the FREE Boston 25 News app for breaking news alerts.
Follow Boston 25 News on Facebook and Twitter. | Watch Boston 25 News NOW
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

'Job hugging' has replaced job-hopping, consultants say, as workers cling to current roles
'Job hugging' has replaced job-hopping, consultants say, as workers cling to current roles

CNBC

time13 minutes ago

  • CNBC

'Job hugging' has replaced job-hopping, consultants say, as workers cling to current roles

The so-called great resignation has become the "great stay." But experts say workers aren't just staying — they're "job hugging." Job hugging is the act of holding onto a job "for dear life," consultants at Korn Ferry, an organizational consulting firm, wrote last week. The rate at which workers are voluntarily leaving their jobs — known as the quits rate — has hovered around 2% since the start of the year, according to data from the U.S. Labor Department's Job Openings and Labor Turnover Survey. Outside of the initial days of the Covid-19 pandemic, levels haven't been that consistently low since early 2016. The quits rate is a barometer of workers' perceptions of the broader labor market, said Laura Ullrich, director of economic research in North America at the Indeed Hiring Lab. In this case, they may be nervous about getting another job or aren't enthusiastic about their ability to find one, she said. The current clinging is a stark contrast from the historic rate of job-hopping that workers exhibited in 2021 and 2022, but experts say it makes sense given current labor market trends. The share of jobseekers who are "not confident at all" that there are "plenty of jobs" available has increased steadily, to 38% in the second quarter from about 26% three years earlier, according to a quarterly poll by ZipRecruiter. "There is this stagnation in the labor market, where the hires, quits and layoff rates are low," said Ullrich. "There's just not a lot of movement at all." 'Uncertainty in the world' "There's quite a bit of uncertainty in the world — economic, political, global — and I think uncertainty causes people to naturally" remain in a holding pattern, said Matt Bohn, an executive search consultant at Korn Ferry. He equated the dynamic to skittish investors who sometimes sit on the sidelines, waiting for an investment opportunity. VIDEO03:23 There's now downside risks to the labor market, says Morgan Stanley's Ellen Zentner The job market has also gradually cooled amid a regime of higher interest rates, which makes it more costly for businesses to borrow money and expand their operations. The hiring rate over the past year or so has plunged to its lowest pace in more than a decade (excluding the early days of the Covid-19 pandemic) — meaning those who want to look for a new job may have a relatively tough time finding one. Job growth in recent months has also slowed sharply, which economists point to as evidence of a broader economic slowdown. The ratio of job openings per unemployed worker has fallen by about half since peaking at about 2:1 in March 2022; it was roughly 1:1 in June 2025, the latest month of available federal data. More CEOs reported plans to shrink their workforce over the next 12 months than expand it — the first time that's occurred since 2020, according to a Conference Board quarterly poll published earlier this month. The shares were 34% to 27%, respectively. While it's not inherently bad to stay in a job for a long time, job "hugging" can pose some risks for the unwary, experts said. For one, they may be sacrificing some earnings growth, since job switchers generally command higher wage growth than those who remain in their current roles, Ullrich said. For example, workers who get too comfortable in their current role may stagnate rather than take on additional responsibility or learn new skills, which may impact marketability and career growth when the labor market improves, Bohn said. Employers may also decide such workers are no longer meeting their performance standards, he added. Additionally, a lack of movement in the job market may make it harder for new entrants like recent graduates to find work, Ullrich said.

Workers are ‘job hugging' in a stagnant labor market, but growing resentment means they could bail as soon as the next Great Resignation comes
Workers are ‘job hugging' in a stagnant labor market, but growing resentment means they could bail as soon as the next Great Resignation comes

Yahoo

time14 minutes ago

  • Yahoo

Workers are ‘job hugging' in a stagnant labor market, but growing resentment means they could bail as soon as the next Great Resignation comes

More employees are planning to stay at their current jobs as a stagnant labor market shakes workers' confidence they'll be able to find work elsewhere. This act of 'job hugging,' however, can exacerbate employees feeling stuck, stoking resentment toward their employers. One workplace expert said this growing discontent will lead to another Great Resignation once market conditions improve. A stagnating labor market is leading workers to hold tightly on to their jobs, even as growing workplace uncertainty stokes resentment and concern among employees, consultants warn. But while employees are staying put to weather the storm, this act of 'job hugging' may only be temporary as they prepare to flee as soon as market conditions improve. The pandemic-era 'Great Resignation' saw 47 million people quit their jobs in 2021 and 50 million more in 2022 as they looked for flexible working conditions and higher pay. As job openings and turnover returned to pre-COVID levels in 2023, the mass exodus of workers transitioned to the 'Great Stay.' Today, as tariff uncertainty threatens companies' growth plans and private equity funding slows—not to mention advancements in AI stoking employees' fears about being displaced—workers are staying put with extra anxiety. They're concerned that should they quit, they wouldn't be able to find options elsewhere, according to consulting firm Korn Ferry. This act of 'job hugging' has workers hanging on to their positions 'for dear life.' 'Given just all the activity that happened post-COVID and then some of these constant layoffs, people are waiting and sitting in seats and hoping that they have more stability,' Korn Ferry managing consultant Stacy DeCesaro told Fortune. Since 2024's fourth quarter, the Eagle Hill Consulting Employee Retention Index has indicated growing employee intent to stay at their current jobs in the next six months. The consultancy also saw a 4.4-point drop in its Market Opportunity Indicator last quarter, indicating a steep decline in employee perceptions of the job market. U.S. payrolls grew by just 73,000 in July, and have expanded by an average of only 35,000 in the past three months. 'No one is wanting to leave unless they're very unhappy or miserable in their job or just feel so unsettled by the company,' DeCesaro said. Growing employee frustration Just because more employees are sticking around doesn't mean they are happy about it. A November 2024 report from Glassdoor found that 65% of employees reported feeling 'stuck' in their current positions, including 73% of those in tech roles. With fewer alternatives, sitting tight at one's job has, for many, resulted in cabin fever. 'It's no accident that trends like 'quiet quitting' are resonating now,' Daniel Zhao, lead economist at Glassdoor, wrote in the report. 'As workers feel stuck, pent-up resentment boils under the surface and employee disengagement rises.' On top of bleak job prospects elsewhere, employees are also grappling with a rotating door of company management, which has exacerbated feelings of discomfort and disconnect from a firm's vision, DeCesaro said. Some of her clients said they've worked under three different company presidents in the past 18 months. CEO turnover rates have reached their highest in decades, with departures jumping 12% from June 2024 to June 2025, according to data from executive placement firm Challenger, Gray & Christmas, reaching the highest levels since the company began tracking turnover in 2002. In other cases, DeCesaro said, new management has provided hope for employees, incentivizing them to stick around that much longer, even if their workplace culture ultimately doesn't end up changing for the better. Taken together, these factors have led to the rise of 'quiet cracking,' employees reaching a breaking point and mentally checking out. The productivity dip as a result of employee disengagement cost the world economy $438 billion in 2024, according to Gallup's 2025 State of the Global Workplace report. 'Great Resignation' redux Employees may have few other career options now, but once market conditions improve, this quiet discontent will no doubt mean déjà vu for employers, DeCesaro said: Another Great Resignation is coming. 'Once the market improves, I think it's going to be super active because there's a lot of pent-up demand of like, 'I've been miserable here for a while, but I've just been waiting for a better opportunity or a better market to move,'' DeCesaro said. If employers want to ensure their workers don't leave as soon as they see other career options, they should focus on looking for opportunities to open doors of communication between management and rank-and-file workers, as well as take the time to gather and listen to workers' feedback, according to DeCesaro. With some jobs remaining entirely remote, there should be a continued effort to gather once a year or quarter to create a cohesive company culture. 'It's going to be a fruit basket turnover of talent,' DeCesaro said. 'But if you've invested in your people between now and when that happens, people are going to be reticent to leave.' This story was originally featured on Solve the daily Crossword

Home Depot (NYSE:HD) Posts Q2 Sales In Line With Estimates
Home Depot (NYSE:HD) Posts Q2 Sales In Line With Estimates

Yahoo

time17 minutes ago

  • Yahoo

Home Depot (NYSE:HD) Posts Q2 Sales In Line With Estimates

Home improvement retail giant Home Depot (NYSE:HD) met Wall Street's revenue expectations in Q2 CY2025, with sales up 4.9% year on year to $45.28 billion. Its non-GAAP profit of $4.68 per share was in line with analysts' consensus estimates. Is now the time to buy Home Depot? Find out in our full research report. Home Depot (HD) Q2 CY2025 Highlights: Revenue: $45.28 billion vs analyst estimates of $45.27 billion (4.9% year-on-year growth, in line) Adjusted EPS: $4.68 vs analyst expectations of $4.69 (in line) Full year 2025 guidance largely reaffirmed Operating Margin: 14.5%, in line with the same quarter last year Free Cash Flow Margin: 8.2%, down from 10.9% in the same quarter last year Locations: 2,353 at quarter end, up from 2,340 in the same quarter last year Same-Store Sales rose 1% year on year (-3.3% in the same quarter last year) Market Capitalization: $392.7 billion "Our second quarter results were in line with our expectations. The momentum that began in the back half of last year continued throughout the first half as customers engaged more broadly in smaller home improvement projects," said Ted Decker, chair, president and CEO. Company Overview Founded and headquartered in Atlanta, Georgia, Home Depot (NYSE:HD) is a home improvement retailer that sells everything from tools to building materials to appliances. Revenue Growth Reviewing a company's long-term sales performance reveals insights into its quality. Any business can put up a good quarter or two, but many enduring ones grow for years. With $165.1 billion in revenue over the past 12 months, Home Depot is a behemoth in the consumer retail sector and benefits from economies of scale, giving it an edge in distribution. This also enables it to gain more leverage on its fixed costs than smaller competitors and the flexibility to offer lower prices. However, its scale is a double-edged sword because it's harder to find incremental growth when you've penetrated most of the market. To accelerate sales, Home Depot likely needs to optimize its pricing or lean into international expansion. As you can see below, Home Depot's sales grew at a tepid 7% compounded annual growth rate over the last six years (we compare to 2019 to normalize for COVID-19 impacts) as it didn't open many new stores. This quarter, Home Depot grew its revenue by 4.9% year on year, and its $45.28 billion of revenue was in line with Wall Street's estimates. Looking ahead, sell-side analysts expect revenue to grow 1.4% over the next 12 months, a deceleration versus the last six years. This projection doesn't excite us and suggests its products will see some demand headwinds. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) stock benefiting from the rise of AI. Click here to access our free report one of our favorites growth stories. Store Performance Number of Stores A retailer's store count often determines how much revenue it can generate. Home Depot operated 2,353 locations in the latest quarter, and over the last two years, has kept its store count flat while other consumer retail businesses have opted for growth. When a retailer keeps its store footprint steady, it usually means demand is stable and it's focusing on operational efficiency to increase profitability. Same-Store Sales The change in a company's store base only tells one side of the story. The other is the performance of its existing locations and e-commerce sales, which informs management teams whether they should expand or downsize their physical footprints. Same-store sales gives us insight into this topic because it measures organic growth for a retailer's e-commerce platform and brick-and-mortar shops that have existed for at least a year. Home Depot's demand has been shrinking over the last two years as its same-store sales have averaged 1.6% annual declines. This performance isn't ideal, and we'd be concerned if Home Depot starts opening new stores to artificially boost revenue growth. In the latest quarter, Home Depot's same-store sales rose 1% year on year. This growth was a well-appreciated turnaround from its historical levels, showing the business is regaining momentum. Key Takeaways from Home Depot's Q2 Results Revenue and EPS were both in line, which is not too exciting. Full-year 2025 guidance was largely reaffirmed. The stock traded down 1.7% to $388 immediately following the results. The latest quarter from Home Depot's wasn't that good. One earnings report doesn't define a company's quality, though, so let's explore whether the stock is a buy at the current price. What happened in the latest quarter matters, but not as much as longer-term business quality and valuation, when deciding whether to invest in this stock. We cover that in our actionable full research report which you can read here, it's free.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store